Friday, February 08, 2013

Someone Needs to Go to Jail

It was announced today that the Federal government was going to sue Standard and Poor's rating services in civil court for their role in the financial collapse.  As the Washington Post reports, the case involves favorable ratings for toxic assets that led to the financial collapse in 2008 especially revolving around residential mortgages.   This is good news for moving forward on recovery, but it is not enough.  There is no way that we can prevent this from happening again until we start pursuing the leaders of these titans of the financial services companies with criminal charges

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